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201204292 <br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water <br />and riparian rights, ditches, and water stock and all existing and future improvements, structures.. <br />fixtures, and replacements that may now, or at any time in the future, be part ofthe real estate described <br />above (all referred to as "Property"), <br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at <br />,any one time shall not exceed $ _1 9 2$2.71_ _ _ _ _ _. This limitation of amount does not include <br />interest and other fees and charges validly made pursuant to this Security Instrument. Also, this <br />limitation does not apply to advances made under the terms of this Security Instrument to protect <br />Beneficiary's security and to perform any of the covenants contained in this Security Instrument. <br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: <br />A_ Debt incurred under the terms of all promissory note(s), contract(s), guaranty(ies) or other evidence <br />of debt described below and all their extensions, renewals, modifications or substitutions. (When <br />referencing the debts below it is suggested that you include items such as borrowers' names, note <br />amounts, interest rates, maturity elates, etc.) <br />Promissory Note # 516657 elated 05/22/2012 in the amount of $19,282.71 maturing on <br />05/20/2017 <br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary <br />under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in <br />favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument <br />is specifically referenced. if more than one person signs this Security Instrument, each 'i'rustor <br />agrees that this Security Instrument will secure all future advances and future obligations that are <br />given to or incurred by any one or more Trustor, or any one or more Trustor and others. All future <br />advances and other future obligations are secured by this Security Instrument even though all or part <br />may not yet be advanced- All future advances and other future obligations are secured as if made on <br />the date ofthis Security Instrument- Nothing in this Security Instrument shall constitute a <br />commitment to make additional or future loans or advances in any amount. Any such commitment <br />must be agreed to in a separate writing. <br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by <br />law, including, but not limited to, liabilities for overdrafts relating to any deposit account <br />agreement between Trustor and Beneficiary. <br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or <br />otherwise protecting the Property and its value and any other sums advanced and expenses incurred <br />by Beneficiary under the terms of this Security Instrument. <br />This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of <br />the right of rescission. <br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in <br />accordance with the terms of the Secured Debt and this Security Instrument. <br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate <br />conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property <br />to Trustee, in trust, with power of sale. Trustor also warrants that the Property is unencumbered, except <br />for encumbrances of record. <br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security <br />agreement or other lien document that created a prior security interest or encumbrance on the Property, <br />Trustor agrees: <br />A. I'o utake all payments when due and to perform or comply with all covenants. <br />B- To promptly deliver to Beneficiary any notices that Trustor receives from the holder. <br />C. Not to allow any modification or extension of nor to request any future advances under any note or <br />agreement secured by the lien document without Beneficiary's prior written consent. <br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease <br />payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may <br />require 'Trustor to provide to Beneficiary copies of a]I notices that such amounts are due and the receipts <br />evidencing Trustor' s payment. Trustor will defend title to the Property against any claims that would <br />impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by <br />Beneficiary, any }nights, claims or defenses Trustor may have against parties who supply labor or <br />materials to maintain or improve the Property. <br />515,557 <br />Security Instrument -Consumer NE RE -QT -NE 7%9=`20l l <br />VU P {`w, Bankers Syslemernt 'MRC165(NE .f9 67} <br />Wall ers Ktuw e..r FI ran tial Scf,iees 01994 2011 <br />